GICS (Global Industry Classification Standard)

Effective after close of business (US, EST) Wednesday June 30, 2010
Red indicates name, definition or structure changes.

Sector Industry Group Industry Sub-Industry

Energy Equipment &
10 Energy 1010 Energy 101010 Services 10101010

10101020

Oil, Gas &

101020 Consumable Fuels 10102010

10102020

10102030

10102040

10102050
GICS (Global Industry Classification Standard)
Effective after close of business (US, EST) Wednesday June 30, 2010
Red indicates name, definition or structure changes.

Sector Industry Group Industry Sub-Industry

15 Materials 1510 Materials 151010 Chemicals 15101010

15101020

15101030

15101040

15101050

Construction
151020 Materials 15102010

Containers &
151030 Packaging 15103010

15103020

151040 Metals & Mining 15104010

15104020

15104030

15104040

15104050

Paper & Forest

151050 Products 15105010

15105020
GICS (Global Industry Classification Standard)
Effective after close of business (US, EST) Wednesday June 30, 2010
Red indicates name, definition or structure changes.

Sector Industry Group Industry Sub-Industry

20 Industrials 2010 Capital Goods 201010 Aerospace & Defense 20101010

201020 Building Products 20102010

Construction &
201030 Engineering 20103010

201040 Electrical Equipment 20104010

20104020

Industrial
201050 Conglomerates 20105010

201060 Machinery 20106010

20106020

Trading Companies &

201070 Distributors 20107010

Commercial Services
2020 Commercial & Professional Services 202010 & Supplies 20201010

20201020

20201030

20201040

20201050

20201060

20201070

20201080
GICS (Global Industry Classification Standard)
Effective after close of business (US, EST) Wednesday June 30, 2010
Red indicates name, definition or structure changes.

Sector Industry Group Industry Sub-Industry

20 Industrials 2020 Commercial & Professional Services 202020 Professional Services 20202010
(continued) (continued)

20202020

Air Freight &

2030 Transportation 203010 Logistics 20301010

203020 Airlines 20302010

203030 Marine 20303010

203040 Road & Rail 20304010

20304020

Transportation
203050 Infrastructure 20305010

20305020

20305030
GICS (Global Industry Classification Standard)
Effective after close of business (US, EST) Wednesday June 30, 2010
Red indicates name, definition or structure changes.

Sector Industry Group Industry Sub-Industry

25 Consumer Discretionary 2510 Automobiles & Components 251010 Auto Components 25101010

25101020

251020 Automobiles 25102010

25102020

2520 Consumer Durables & Apparel 252010 Household Durables 25201010

25201020

25201030

25201040

25201050

Leisure Equipment &

252020 Products 25202010

25202020

Textiles, Apparel &

252030 Luxury Goods 25203010

25203020

25203030
GICS (Global Industry Classification Standard)
Effective after close of business (US, EST) Wednesday June 30, 2010
Red indicates name, definition or structure changes.

Sector Industry Group Industry Sub-Industry

Hotels, Restaurants &
25 Consumer Discretionary 2530 Consumer Services 253010 Leisure 25301010
(continued)
25301020

25301030

25301040

Diversified Consumer
253020 Services 25302010

25302020

2540 Media 254010 Media 25401010

25401020

25401025

25401030

25401040

2550 Retailing 255010 Distributors 25501010

Internet & Catalog

255020 Retail 25502010

25502020

255030 Multiline Retail 25503010

25503020

255040 Specialty Retail 25504010

25504020

25504030

25504040

25504050

25504060
GICS (Global Industry Classification Standard)
Effective after close of business (US, EST) Wednesday June 30, 2010
Red indicates name, definition or structure changes.

Sector Industry Group Industry Sub-Industry

Food & Staples

30 Consumer Staples 3010 Food & Staples Retailing 301010 Retailing 30101010

30101020

30101030

30101040

3020 Food, Beverage & Tobacco 302010 Beverages 30201010

30201020

30201030

302020 Food Products 30202010

30202020

30202030

302030 Tobacco 30203010

3030 Household & Personal Products 303010 Household Products 30301010

303020 Personal Products 30302010

GICS (Global Industry Classification Standard)
Effective after close of business (US, EST) Wednesday June 30, 2010
Red indicates name, definition or structure changes.

Sector Industry Group Industry Sub-Industry

Health Care
Equipment &
35 Health Care 3510 Health Care Equipment & Services 351010 Supplies 35101010

35101020

Health Care Providers

351020 & Services 35102010

35102015

35102020

35102030

Health Care
351030 Technology 35103010

Pharmaceuticals, Biotechnology &

3520 Life Sciences 352010 Biotechnology 35201010

352020 Pharmaceuticals 35202010

Life Sciences Tools &

352030 Services 35203010
GICS (Global Industry Classification Standard)
Effective after close of business (US, EST) Wednesday June 30, 2010
Red indicates name, definition or structure changes.

Sector Industry Group Industry Sub-Industry

40 Financials 4010 Banks 401010 Commercial Banks 40101010

40101015

Thrifts & Mortgage

401020 Finance 40102010

Diversified Financial
4020 Diversified Financials 402010 Services 40201010

40201020

40201030

40201040

402020 Consumer Finance 40202010

402030 Capital Markets 40203010

40203020

40203030
GICS (Global Industry Classification Standard)
Effective after close of business (US, EST) Wednesday June 30, 2010
Red indicates name, definition or structure changes.

Sector Industry Group Industry Sub-Industry

40 Financials 4030 Insurance 403010 Insurance 40301010
(continued)
40301020

40301030

40301040

40301050

Real Estate --
Discontinued
4040 Real Estate 404010 effective 04/28/2006 40401010

40401020

Real Estate
Investment Trusts
404020 (REITs) 40402010

40402020

40402030

40402040

40402050

40402060

40402070

Real Estate
Management &
404030 Development 40403010

40403020

40403030

40403040
GICS (Global Industry Classification Standard)
Effective after close of business (US, EST) Wednesday June 30, 2010
Red indicates name, definition or structure changes.

Sector Industry Group Industry Sub-Industry

Internet Software &
45 Information Technology 4510 Software & Services 451010 Services 45101010

451020 IT Services 45102010

45102020

451030 Software 45103010

45103020

45103030
GICS (Global Industry Classification Standard)
Effective after close of business (US, EST) Wednesday June 30, 2010
Red indicates name, definition or structure changes.

Sector Industry Group Industry Sub-Industry

Communications
45 Information Technology 4520 Technology Hardware & Equipment 452010 Equipment 45201020
(continued)

45201010

45201020

Computers &
452020 Peripherals 45202010

45202020

Electronic
Equipment,
Instruments &
452030 Components 45203010

45203015

45203020

45203030

452040 Office Electronics 45204010

Semiconductor
Equipment &
Products --
Discontinued
452050 effective 04/30/2003. 45205010

45205020

Semiconductors &
Semiconductors & Semiconductor Semiconductor
4530 Equipment 453010 Equipment 45301010

45301020
GICS (Global Industry Classification Standard)
Effective after close of business (US, EST) Wednesday June 30, 2010
Red indicates name, definition or structure changes.

Sector Industry Group Industry Sub-Industry

Diversified
Telecommunication Telecommunication
50 Services 5010 Telecommunication Services 501010 Services 50101010

50101020

Wireless
Telecommunication
501020 Services 50102010

55 Utilities 5510 Utilities 551010 Electric Utilities 55101010

551020 Gas Utilities 55102010

551030 Multi-Utilities 55103010

551040 Water Utilities 55104010

Independent Power
Producers & Energy
551050 Traders 55105010
ustry

Oil & Gas Drilling

Drilling contractors or owners of drilling rigs that contract their services for drilling wells
Oil & Gas Equipment & Services
Manufacturers of equipment, including drilling rigs and equipment, and providers of supplies and services to companies involved in the
drilling, evaluation and completion of oil and gas wells.

Integrated Oil & Gas

Integrated oil companies engaged in the exploration & production of oil and gas, as well as at least one other significant activity in either
refining, marketing and transportation, or chemicals.
Oil & Gas Exploration & Production
Companies engaged in the exploration and production of oil and gas not classified elsewhere.
Oil & Gas Refining & Marketing
Companies engaged in the refining and marketing of oil, gas and/or refined products not classified in the Integrated Oil & Gas or
Independent Power Producers & Energy Traders Sub-Industries.
Oil & Gas Storage & Transportation

Companies engaged in the storage and/or transportation of oil, gas and/or refined products. Includes diversified midstream natural gas
companies facing competitive markets, oil and refined product pipelines, coal slurry pipelines and oil & gas shipping companies.
Coal & Consumable Fuels
Companies primarily involved in the production and mining of coal, related products and other consumable fuels related to the generation
of energy. Excludes companies primarily producing gases classified in the Industrial Gases sub-industry and companies primarily mining
for metallurgical (coking) coal used for steel production.
ustry
Commodity Chemicals

Companies that primarily produce industrial chemicals and basic chemicals. Including but not limited to plastics, synthetic fibers, films,
commodity-based paints & pigments, explosives and petrochemicals. Excludes chemical companies classified in the Diversified
Chemicals, Fertilizers & Agricultural Chemicals, Industrial Gases, or Specialty Chemicals Sub-Industries.
Diversified Chemicals
Manufacturers of a diversified range of chemical products not classified in the Industrial Gases, Commodity Chemicals, Specialty
Chemicals or Fertilizers & Agricultural Chemicals Sub-Industries.
Fertilizers & Agricultural Chemicals
Producers of fertilizers, pesticides, potash or other agriculture-related chemicals not classified elsewhere.
Industrial Gases
Manufacturers of industrial gases.
Specialty Chemicals

Companies that primarily produce high value-added chemicals used in the manufacture of a wide variety of products, including but not
limited to fine chemicals, additives, advanced polymers, adhesives, sealants and specialty paints, pigments and coatings.

Construction Materials
Manufacturers of construction materials including sand, clay, gypsum, lime, aggregates, cement, concrete and bricks. Other finished or
semi-finished building materials are classified in the Building Products Sub-Industry.

Metal & Glass Containers

Manufacturers of metal, glass or plastic containers. Includes corks and caps.
Paper Packaging
Manufacturers of paper and cardboard containers and packaging.
Aluminum
Producers of aluminum and related products, including companies that mine or process bauxite and companies that recycle aluminum to
produce finished or semi-finished products. Excludes companies that primarily produce aluminum building materials classified in the
Building Products Sub-Industry.
Diversified Metals & Mining

Companies engaged in the diversified production or extraction of metals and minerals not classified elsewhere. Including, but not limited
to, nonferrous metal mining (except aluminum), salt and borate mining, phosphate rock mining, metallurgical (coking) coal mining used for
steel production and diversified mining operations. Excludes iron ore mining, classified in the Steel Sub-Industry and aluminum mining
classified in the Aluminum Sub-Industry. Excludes bituminous (thermal) coal-mining companies classified in the Coal & Consumable
Fuels Sub-Industry.
Gold
Producers of gold and related products, including companies that mine or process gold and the South African finance houses which
primarily invest in, but do not operate, gold mines.
Precious Metals & Minerals

Companies mining precious metals and minerals not classified in the Gold Sub-Industry. Includes companies primarily mining platinum.
Steel
Producers of iron and steel and related products

Forest Products
Manufacturers of timber and related wood products. Includes lumber for the building industry.
Paper Products
Manufacturers of all grades of paper. Excludes companies specializing in paper packaging classified in the Paper Packaging Sub-
Industry.
ustry

Aerospace & Defense

Manufacturers of civil or military aerospace and defense equipment, parts or products. Includes defense electronics and space
equipment.
Building Products
Manufacturers of building components and home improvement products and equipment. Excludes lumber and plywood classified under
Forest Products and cement and other materials classified in the Construction Materials Sub-Industry.

Construction & Engineering

Companies engaged in primarily non-residential construction. Includes civil engineering companies and large-scale contractors. Excludes
companies classified in the Homebuilding Sub-Industry.

Electrical Components & Equipment

Companies that produce electric cables and wires, electrical components or equipment not classified in the Heavy Electrical Equipment
Sub-Industry.
Heavy Electrical Equipment
Manufacturers of power-generating equipment and other heavy electrical equipment, including power turbines, heavy electrical machinery
intended for fixed-use and large electrical systems. Excludes cables and wires, classified in the Electrical Components & Equipment Sub-
Industry.

Industrial Conglomerates

Diversified industrial companies with business activities in three or more sectors, none of which contributes a majority of revenues. Stakes
held are predominantly of a controlling nature and stake holders maintain an operational interest in the running of the subsidiaries.
Construction & Farm Machinery & Heavy Trucks
Manufacturers of heavy duty trucks, rolling machinery, earth-moving and construction equipment, heavy farm machinery and
manufacturers of related parts. Includes non-military shipbuilding.
Industrial Machinery

Manufacturers of industrial machinery and industrial components. Includes companies that manufacture presses, machine tools,
compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings and other metal fabrications.

Trading Companies & Distributors

Trading companies and other distributors of industrial equipment and products.

Commercial Printing
Companies providing commercial printing services. Includes printers primarily serving the media industry.
Data Processing Services -- Discontinued effective 04/30/2003.
Providers of commercial electronic data processing services.
Diversified Commercial & Professional Services -- Discontinued effective 08/31/2008

Companies primarily providing commercial, industrial and professional services to businesses and governments not classified elsewhere.
Includes commercial cleaning services, consulting services, correctional facilities, dining & catering services, document & communication
services, equipment repair services, security & alarm services, storage & warehousing, and uniform rental services.
Human Resource & Employment Services -- Discontinued effective 08/31/2008
Companies providing business support services relating to human capital management. Includes employment agencies, employee
training, payroll & benefit support services, retirement support services and temporary agencies.
Environmental & Facilities Services

Companies providing environmental and facilities maintenance services. Includes waste management, facilities management and
pollution control services. Excludes large-scale water treatment systems classified in the Water Utilities Sub-Industry.
Office Services & Supplies
Providers of office services and manufacturers of office supplies and equipment not classified elsewhere.
Diversified Support Services
Companies primarily providing labor oriented support services to businesses and governments. Includes commercial cleaning services,
dining & catering services, equipment repair services, industrial maintenance services, industrial auctioneers, storage & warehousing,
transaction services, uniform rental services, and other business support services.
Security & Alarm Services
ustry

Companies providing security and protection services to business and governments. Includes companies providing services such as
correctional facilities, security & alarm services, armored transportation & guarding. Excludes companies providing security software
classified under the Systems Software Sub-Industry and home security services classified under the Specialized Consumer Services Sub-
Industry. Also excludes companies manufacturing security system equipment classified under the Electronic Equipment & Instruments
Sub-Industry.
ustry

Human Resource & Employment Services

Companies providing business support services relating to human capital management. Includes employment agencies, employee
training, payroll & benefit support services, retirement support services and temporary agencies.
Research & Consulting Services
Companies primarily providing research and consulting services to businesses and governments not classified elsewhere. Includes
companies involved in management consulting services, architectural design, business information or scientific research, marketing, and
testing & certification services. Excludes companies providing information technology consulting services classified in the IT Consulting &
Other Services Sub-Industry.

Air Freight & Logistics

Companies providing air freight transportation, courier and logistics services, including package and mail delivery and customs agents.
Excludes those companies classified in the Airlines, Marine or Trucking Sub-Industries.
Airlines
Companies providing primarily passenger air transportation.
Marine
Companies providing goods or passenger maritime transportation. Excludes cruise-ships classified in the Hotels, Resorts & Cruise Lines
Sub-Industry.
Railroads
Companies providing primarily goods and passenger rail transportation.
Trucking
Companies providing primarily goods and passenger land transportation. Includes vehicle rental and taxi companies.

Airport Services
Operators of airports and companies providing related services.
Highways & Railtracks
Owners and operators of roads, tunnels and railtracks.
Marine Ports & Services
Owners and operators of marine ports and related services.
ustry

Auto Parts & Equipment

Manufacturers of parts and accessories for automobiles and motorcycles. Excludes companies classified in the Tires & Rubber Sub-
Industry.
Tires & Rubber
Manufacturers of tires and rubber.
Automobile Manufacturers
Companies that produce mainly passenger automobiles and light trucks. Excludes companies producing mainly motorcycles and three-
wheelers classified in the Motorcycle Manufacturers Sub-Industry and heavy duty trucks classified in the Construction & Farm Machinery
& Heavy Trucks Sub-Industry.
Motorcycle Manufacturers

Companies that produce motorcycles, scooters or three-wheelers. Excludes bicycles classified in the Leisure Products Sub-Industry.
Consumer Electronics
Manufacturers of consumer electronics products including TVs, VCRs, hi-fi equipment, game consoles and related products. Excludes
personal home computer manufacturers classified in the Computer Hardware Sub-Industry, and electric household appliances classified
in the Household Appliances Sub-Industry.
Home Furnishings
Manufacturers of soft home furnishings or furniture, including upholstery, carpets and wall-coverings.
Homebuilding

Residential construction companies. Includes manufacturers of prefabricated houses and semi-fixed manufactured homes.
Household Appliances
Manufacturers of electric household appliances and related products. Includes manufacturers of power and hand tools, including garden
improvement tools. Excludes TVs and other audio and video products classified in the Consumer Electronics Sub-Industry and personal
computers classified in the Computer Hardware Sub-Industry.
Housewares & Specialties
Manufacturers of durable household products, including cutlery, cookware, glassware, crystal, silverware, utensils, kitchenware and
consumer specialties not classified elsewhere.

Leisure Products
Manufacturers of leisure products and equipment including sports equipment, bicycles and toys.
Photographic Products
Manufacturers of photographic equipment and related products.

Apparel, Accessories & Luxury Goods

Manufacturers of apparel, accessories & luxury goods. Includes companies primarily producing designer handbags, wallets, luggage,
jewelry and watches. Excludes shoes classified in the Footwear Sub-Industry.
Footwear
Manufacturers of footwear. Includes sport and leather shoes.
Textiles
Manufacturers of textile and related products not classified in the Apparel, Accessories & Luxury Goods, Footwear or Home Furnishings
Sub-Industries.
ustry

Casinos & Gaming

Owners and operators of casinos and gaming facilities. Includes companies providing lottery and betting services.
Hotels, Resorts & Cruise Lines
Owners and operators of hotels, resorts and cruise-ships. Includes travel agencies, tour operators and related services not classified
elsewhere . Excludes casino-hotels classified in the Casinos & Gaming Sub-Industry.
Leisure Facilities
Owners and operators of leisure facilities, including sport and fitness centers, stadiums, golf courses and amusement parks not classified
in the Movies & Entertainment Sub-Industry.
Restaurants

Owners and operators of restaurants, bars, pubs, fast-food or take-out facilities. Includes companies that provide food catering services.

Education Services

Companies providing educational services, either on-line or through conventional teaching methods. Includes, private universities,
correspondence teaching, providers of educational seminars, educational materials and technical education. Excludes companies
providing employee education programs classified in the Human Resources & Employment Services Sub-Industry
Specialized Consumer Services
Companies providing consumer services not classified elsewhere. Includes residential services, home security, legal services, personal
services, renovation & interior design services, consumer auctions and wedding & funeral services.
Advertising
Companies providing advertising, marketing or public relations services.
Broadcasting
Owners and operators of television or radio broadcasting systems, including programming. Includes, radio and television broadcasting,
radio networks, and radio stations.
Cable & Satellite
Providers of cable or satellite television services. Includes cable networks and program distribution.
Movies & Entertainment

Companies that engage in producing and selling entertainment products and services, including companies engaged in the production,
distribution and screening of movies and television shows, producers and distributors of music, entertainment theaters and sports teams.
Publishing
Publishers of newspapers, magazines and books, and providers of information in print or electronic formats.
Distributors
Distributors and wholesalers of general merchandise not classified elsewhere. Includes vehicle distributors.

Catalog Retail
Mail order and TV home shopping retailers. Includes companies that provide door-to-door retail.
Internet Retail
Companies providing retail services primarily on the internet, not classified elsewhere.
Department Stores
Owners and operators of department stores.
General Merchandise Stores
Owners and operators of stores offering diversified general merchandise. Excludes hypermarkets and large-scale super centers classified
in the Hypermarkets & Super Centers Sub-Industry.
Apparel Retail
Retailers specialized mainly in apparel and accessories.
Computer & Electronics Retail
Owners and operators of consumer electronics, computers, video and related products retail stores.
Home Improvement Retail

Owners and operators of home and garden improvement retail stores. Includes stores offering building materials and supplies.
Specialty Stores
Owners and operators of specialty retail stores not classified elsewhere. Includes jewelry stores, toy stores, office supply stores, health &
vision care stores, and book & entertainment stores.
Automotive Retail
Owners and operators of stores specializing in automotive retail. Includes auto dealers, gas stations, and retailers of auto accessories,
motorcycles & parts, automotive glass, and automotive equipment & parts.
Homefurnishing Retail
ustry

Owners and operators of furniture and home furnishings retail stores. Includes residential furniture, homefurnishings, housewares, and
interior design. Excludes home and garden improvement stores, classified in the Home Improvement Retail Sub-Industry.

Drug Retail
Owners and operators of primarily drug retail stores and pharmacies.
Food Distributors
Distributors of food products to other companies and not directly to the consumer.
Food Retail
Owners and operators of primarily food retail stores.
Hypermarkets & Super Centers
Owners and operators of hypermarkets and super centers selling food and a wide-range of consumer staple products. Excludes Food
and Drug Retailers classified in the Food Retail and Drug Retail Sub-Industries, respectively.
Brewers
Producers of beer and malt liquors. Includes breweries not classified in the Restaurants Sub-Industry.
Distillers & Vintners
Distillers, vintners and producers of alcoholic beverages not classified in the Brewers Sub-Industry.
Soft Drinks
Producers of non-alcoholic beverages including mineral waters. Excludes producers of milk classified in the Packaged Foods Sub-
Industry.
Agricultural Products
Producers of agricultural products. Includes crop growers, owners of plantations and companies that produce and process foods but do
not package and market them. Excludes companies classified in the Forest Products Sub-Industry and those that package and market the
food products classified in the Packaged Foods Sub-Industry.
Meat, Poultry & Fish (discontinued, effective March 28 2002)
Companies that raise livestock or poultry, fishing companies and other producers of meat, poultry or fish products.
Packaged Foods & Meats
Producers of packaged foods including dairy products, fruit juices, meats, poultry, fish and pet foods.
Tobacco
Manufacturers of cigarettes and other tobacco products.
Household Products
Producers of non-durable household products, including detergents, soaps, diapers and other tissue and household paper products not
classified in the Paper Products Sub-Industry.
Personal Products
Manufacturers of personal and beauty care products, including cosmetics and perfumes.
ustry

Health Care Equipment

Manufacturers of health care equipment and devices. Includes medical instruments, drug delivery systems, cardiovascular & orthopedic
devices, and diagnostic equipment.
Health Care Supplies
Manufacturers of health care supplies and medical products not classified elsewhere. Includes eye care products, hospital supplies, and
safety needle & syringe devices.

Health Care Distributors

Distributors and wholesalers of health care products not classified elsewhere.
Health Care Services
Providers of patient health care services not classified elsewhere. Includes dialysis centers, lab testing services, and pharmacy
management services. Also includes companies providing business support services to health care providers, such as clerical support
services, collection agency services, staffing services and outsourced sales & marketing services
Health Care Facilities

Owners and operators of health care facilities, including hospitals, nursing homes, rehabilitation centers and animal hospitals.
Managed Health Care
Owners and operators of Health Maintenance Organizations (HMOs) and other managed plans.

Health Care Technology

Companies providing information technology services primarily to health care providers. Includes companies providing application,
systems and/or data processing software, internet-based tools, and IT consulting services to doctors, hospitals or businesses operating
primarily in the Health Care Sector

Biotechnology

Companies primarily engaged in the research, development, manufacturing and/or marketing of products based on genetic analysis and
genetic engineering. Includes companies specializing in protein-based therapeutics to treat human diseases
Pharmaceuticals
Companies engaged in the research, development or production of pharmaceuticals. Includes veterinary drugs.

Life Sciences Tools & Services

Companies enabling the drug discovery, development and production continuum by providing analytical tools, instruments, consumables
& supplies, clinical trial services and contract research services. Includes firms primarily servicing the pharmaceutical and biotechnology
industries.
ustry
Diversified Banks

Commercial banks whose businesses are derived primarily from commercial lending operations and have significant business activity in
retail banking and small and medium corporate lending. Excludes banks classified in the Regional Banks and Thrifts & Mortgage Finance
sub-industries. Also excludes investment banks classified in the Investment Banking & Brokerage Sub-Industry.
Regional Banks
Commercial banks whose businesses are derived primarily from commercial lending operations and have significant business activity in
retail banking and small and medium corporate lending. Regional banks tend to operate in limited geographic regions. Excludes
companies classified in the Diversified Banks and Thrifts & Mortgage Banks sub-industries. Also excludes investment banks classified in
the Investment Banking & Brokerage Sub-Industry.

Thrifts & Mortgage Finance

Financial institutions providing mortgage and mortgage related services. These include financial institutions whose assets are primarily
mortgage related, savings & loans, mortgage GSE’s (government sponsored enterprises), mortgage lending institutions, building societies
and companies providing insurance to mortgage banks.

Consumer Finance -- Discontinued effective 04/30/2003.

Providers of consumer finance services, including personal credit, credit cards, lease financing, mortgage lenders, travel-related money
services and pawn shops.
Other Diversified Financial Services
Providers of a diverse range of financial services and/or with some interest in a wide range of financial services including banking,
insurance and capital markets, but with no dominant business line.
Multi-Sector Holdings

A company with significantly diversified holdings across three or more sectors, none of which contributes a majority of profit and/or sales.
Stakes held are predominantly of a non-controlling nature. Includes diversified financial companies where stakes held are of a controlling
nature. Excludes other diversified companies classified in the Industrials Conglomerates Sub-Industry.
Specialized Finance
Providers of specialized financial services. Includes credit agencies, stock exchanges and specialty boutiques. Companies in this Sub-
Industry derive a majority of revenue from one, specialized line of business.
Consumer Finance
Providers of consumer finance services, including personal credit, credit cards, lease financing, travel-related money services and pawn
shops. Excludes mortgage lenders classified in the Thrifts & Mortgage Banks Sub-Industry.
Asset Management & Custody Banks

Financial institutions primarily engaged in investment management and/or related custody and securities fee-based services. Includes
companies operating mutual funds, closed-end funds and unit investment trusts. Excludes banks and other financial institutions primarily
involved in commercial lending, investment banking, brokerage and other specialized financial activities.
Investment Banking & Brokerage
Financial institutions primarily engaged in investment banking & brokerage services, including equity and debt underwriting, mergers and
acquisitions, securities lending and advisory services. Excludes banks and other financial institutions primarily involved in commercial
lending, asset management and specialized financial activities.
Diversified Capital Markets

Financial institutions primarily engaged in diversified capital markets activities, including a significant presence in at least two of the
following area: large/major corporate lending, investment banking, brokerage and asset management. Excludes less diversified
companies classified in the Asset Management & Custody Banks or Investment Banking & Brokerage sub-industries. Also excludes
companies classified in the Banks or Insurance industry groups or the Consumer Finance Sub-Industry.
ustry
Insurance Brokers
Insurance and reinsurance brokerage firms.
Life & Health Insurance
Companies providing primarily life, disability, indemnity or supplemental health insurance. Excludes managed care companies classified
in the Managed Health Care Sub-Industry.
Multi-line Insurance
Insurance companies with diversified interests in life, health and property and casualty insurance.
Property & Casualty Insurance
Companies providing primarily property and casualty insurance.
Reinsurance
Companies providing primarily reinsurance.

Real Estate Investment Trusts -- Discontinued effective 04/28/2006

Real estate investment trusts (REITs). Includes Property Trusts.
Real Estate Management & Development -- Discontinued effective 04/28/2006
Companies engaged in real estate ownership, development or management.

Diversified REIT's
A company or Trust with significantly diversified operations across two or more property types.
Industrial REIT's
Companies or Trusts engaged in the acquisition, development, ownership, leasing, management and operation of industrial properties.
Includes companies operating industrial warehouses and distribution properties.
Mortgage REIT's
Companies or Trusts that service, originate, purchase and/or securitize residential and/or commercial mortgage loans. Includes trusts
that invest in mortgage-backed securities and other mortgage related assets.
Office REIT's

Companies or Trusts engaged in the acquisition, development, ownership, leasing, management and operation of office properties.
Residential REIT's
Companies or Trusts engaged in the acquisition, development, ownership, leasing, management and operation of residential properties
including multifamily homes, apartments, manufactured homes and student housing properties
Retail REIT's
Companies or Trusts engaged in the acquisition, development, ownership, leasing, management and operation of shopping malls, outlet
malls, neighborhood and community shopping centers.
Specialized REIT's

Companies or Trusts engaged in the acquisition, development, ownership, leasing, management and operation of properties not classified
elsewhere. Includes trusts that operate and invest in health care, leisure, hotel/resort and storage properties. It also includes REITs that
do not generate a majority of their revenues and income from real estate rental and leasing operations.

Diversified Real Estate Activities

Companies engaged in a diverse spectrum of real estate activities including real estate development & sales, real estate management, or
real estate services, but with no dominant business line.
Real Estate Operating Companies
Companies engaged in operating real estate properties for the purpose of leasing & management.
Real Estate Development
Companies that develop real estate and sell the properties after development. Excludes companies classified in the Homebuilding Sub-
Industry.
Real Estate Services
Real estate service providers such as real estate agents, brokers & real estate appraisers.
ustry

Internet Software & Services

Companies developing and marketing internet software and/or providing internet services including online databases and interactive
services, web address registration services, database construction and internet design services. Excludes companies classified in the
Internet Retail Sub-Industry.
IT Consulting & Other Services

Providers of information technology and systems integration services not classified in the Data Processing & Outsourced Services or
Internet Software & Services Sub-Industries. Includes information technology consulting and information management services.
Data Processing & Outsourced Services
Providers of commercial electronic data processing and/or business process outsourcing services. Includes companies that provide
services for back-office automation.
Application Software

Companies engaged in developing and producing software designed for specialized applications for the business or consumer market.
Includes enterprise and technical software. Excludes companies classified in the Home Entertainment Software Sub-Industry. Also
excludes companies producing systems or database management software classified in the Systems Software Sub-Industry.
Systems Software
Companies engaged in developing and producing systems and database management software.
Home Entertainment Software
Manufacturers of home entertainment software and educational software used primarily in the home.
ustry

Communications Equipment

Manufacturers of communication equipment and products, including LANs, WANs, routers, telephones, switchboards and exchanges.
Networking Equipment -- Discontinued effective 04/30/2003.
Manufacturers of computer networking equipment and products, including LANs, WANs and routers.
Telecommunications Equipment -- Discontinued effective 04/30/2003.
Manufacturers of telecommunication equipment, including telephones, switchboards and exchanges. Excludes companies classified in
the Networking Equipment Sub-Industry.

Computer Hardware

Manufacturers of personal computers, servers, mainframes and workstations. Includes manufacturers of Automatic Teller Machines
(ATMs). Excludes manufacturers of copiers, faxes and related products classified in the Office Electronics Sub-Industry.
Computer Storage & Peripherals

Manufacturers of electronic computer components and peripherals. Includes data storage components, motherboards, audio and video
cards, monitors, keyboards, printers and other peripherals. Excludes semiconductors classified in the Semiconductors Sub-Industry.

Electronic Equipment & Instruments

Manufacturers of electronic equipment and instruments including analytical, electronic test and measurement instruments,
scanner/barcode products, lasers, display screens, point-of-sales machines, and security system equipment.
Electronic Components

Manufacturers of electronic components. Includes electronic components, connection devices, electron tubes, electronic capacitors and
resistors, electronic coil, printed circuit board, transformer and other inductors, signal processing technology/components.
Electronic Manufacturing Services
Producers of electronic equipment mainly for the OEM (Original Equipment Manufacturers) markets.
Technology Distributors
Distributors of technology hardware and equipment. Includes distributors of communications equipment, computers & peripherals,
semiconductors, and electronic equipment and components.
Office Electronics
Manufacturers of office electronic equipment including copiers and faxes.

Semiconductor Equipment -- Discontinued effective 04/30/2003.

Manufacturers of semiconductor equipment.
Semiconductors -- Discontinued effective 04/30/2003.
Manufacturers of semiconductors and related products.

Semiconductor Equipment

Manufacturers of semiconductor equipment, including manufacturers of the raw material and equipment used in the solar power industry.
Semiconductors
Manufacturers of semiconductors and related products, including manufacturers of solar modules and cells.
ustry

Alternative Carriers

Providers of communications and high-density data transmission services primarily through a high bandwidth/fiber-optic cable network.
Integrated Telecommunication Services
Operators of primarily fixed-line telecommunications networks and companies providing both wireless and fixed-line telecommunications
services not classified elsewhere.

Wireless Telecommunication Services

Providers of primarily cellular or wireless telecommunication services, including paging services.
Electric Utilities
Companies that produce or distribute electricity. Includes both nuclear and non-nuclear facilities.
Gas Utilities
Companies whose main charter is to distribute and transmit natural and manufactured gas. Excludes companies primarily involved in gas
exploration or production classified in the Oil & Gas Exploration & Production Sub-Industry. Also excludes diversified midstream natural
gas companies classified in the Oil & Gas Storage & Transportation Sub-Industry.
Multi-Utilities

Utility companies with significantly diversified activities in addition to core Electric Utility, Gas Utility and/or Water Utility operations.
Water Utilities
Companies that purchase and redistribute water to the end-consumer. Includes large-scale water treatment systems.

Independent Power Producers & Energy Traders

Companies that operate as Independent Power Producers (IPPs), Gas & Power Marketing & Trading Specialists and/or Integrated Energy
Merchants. Includes producers of solar power and wind power, used to generate electricity. Also includes companies that generate
electricity and/or power through alternative energy sources such as biogas, biomass, clean energy, geothermal, waste, water and waves.
Excludes electric transmission companies and utility distribution companies classified in the Electric Utilities Sub-Industry.